Russell Investments Group Ltd. Sells 40,855 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Russell Investments Group Ltd. has decreased its stake in Glacier Bancorp by 15.0%, selling 40,855 shares to hold 231,887 shares valued at approximately $10.25 million.
• Glacier Bancorp reported earnings per share (EPS) of $0.45 for the last quarter, missing the consensus estimate by $0.04, with a net margin of 14.99%.
• The company announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend of $1.32 and a yield of 2.8%.

Russell Investments Group Ltd. reduced its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,887 shares of the bank's stock after selling 40,855 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Glacier Bancorp worth $10,254,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Glacier Bancorp by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock valued at $88,587,000 after purchasing an additional 126,316 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Glacier Bancorp by 9.1% during the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock valued at $60,198,000 after buying an additional 113,544 shares during the period. Snyder Capital Management L P raised its stake in Glacier Bancorp by 3.4% in the fourth quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank's stock worth $56,446,000 after buying an additional 37,472 shares in the last quarter. Madison Asset Management LLC raised its stake in Glacier Bancorp by 9.5% in the first quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank's stock worth $46,066,000 after buying an additional 90,512 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock worth $47,010,000 after buying an additional 916,163 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Up 2.3%

Glacier Bancorp stock opened at $46.44 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $5.50 billion, a PE ratio of 27.81 and a beta of 0.79. The stock has a 50-day moving average of $44.36 and a two-hundred day moving average of $44.04. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's payout ratio is presently 68.75%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GBCI shares. Keefe, Bruyette & Woods lifted their price target on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a report on Friday, June 27th. Piper Sandler lifted their target price on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and set a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Thursday, June 5th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the sale, the insider directly owned 11,918 shares of the company's stock, valued at $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company's stock.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.

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